Gold and Silver Technical Outlook Shifts
Gold and silver prices have seen some changes in their technical outlook according to Abhilash Koikkara, Head of Forex & Commodities at Nuvama Professional Clients Group. Gold has maintained a positive technical outlook with a potential upside level of 155,000.
The current momentum for gold suggests that it will move higher towards the 155,000 levels in the coming sessions. The price structure remains positive as long as gold continues to hold above its key support zone at 147,000.
For silver, the technical outlook is moderately positive with a potential upside level of 232,000. However, it's currently showing weaker price action compared to gold. If the current support zone holds and buying interest continues to emerge on declines, silver can move higher towards 232,000.